NEW YORK, Feb. 4, 2026, 10:15 a.m. (EST)
- ElevenLabs secured $500 million in fresh funding, pushing its valuation to $11 billion
- Sequoia Capital led the round, pushing the valuation to more than three times what it was a year ago
- The startup reports ending 2025 with over $330 million in annual recurring revenue
Voice-cloning AI startup ElevenLabs has reached an $11 billion valuation after closing a $500 million funding round, according to the Wall Street Journal on Wednesday. The Series D round was led by Sequoia Capital, the report stated.
Reuters
The raise comes as investors focus on AI products delivering real sales instead of just polished demos. ElevenLabs offers tools enabling companies to generate and manage natural-sounding speech, tapping into a rapidly growing market driven by automation of customer calls and support.
The company reported finishing 2025 with over $330 million in annual recurring revenue (ARR), a key subscription metric that annualizes contract income. It’s also pushing “voice agents,” software designed to carry on conversations and handle routine tasks without needing a human operator.
According to The Recursive, Sequoia will join the board through partner Andrew Reed, while several notable investors have pumped in more cash. The report notes Andreessen Horowitz has boosted its stake, and ICONIQ Capital is back in, joined by newcomers Lightspeed Venture Partners, Evantic Capital, and BOND. Expect additional strategic partners to come on board later this month.
Therecursive
ElevenLabs revealed this latest round pushes their total funding to $781 million since launching in 2022. Co-founder Piotr Dabkowski summed up their initial goal plainly: “We started by building a voice that could sound human.” Reed added, “It’s an honor to join their board.”
Elevenlabs
The company is channeling funds into its enterprise “ElevenAgents” platform, which it claims is adopted by clients like Deutsche Telekom, Square, the Ukrainian government, and Revolut. ElevenLabs also offers tools geared toward creators and developers, with brands and platforms such as Duolingo, Nvidia, TIME, Meta, Epic Games, Salesforce, MasterClass, and Harvey relying on its products.
This new round comes after a $180 million Series C in January 2025 that pegged ElevenLabs at a $3.3 billion valuation, per a company blog post from that time. The startup kicked off its platform in January 2023 and quickly broadened its scope beyond text-to-speech, adding features like dubbing and conversational AI.
Elevenlabs
In September 2025, ElevenLabs launched a $100 million employee tender offer that pegged the company’s valuation at $6.6 billion. This gave employees the opportunity to cash out some of their shares. CEO Mati Staniszewski commented in the announcement, “Voice is the future interface.”
Elevenlabs
Staniszewski told the Journal the company pulled in $330 million in annual recurring revenue last year and plans to double that figure this year, the paper reported. Sequoia led the Series D round, with Andreessen Horowitz and ICONIQ also pitching in, the Journal added.
Wsj
Voice cloning is still a sensitive area, with its future growth depending heavily on how companies like ElevenLabs manage misuse and address concerns from regulators and rights holders. The tech has been exploited to mimic public figures and spread false information, forcing the company to implement stricter controls and curb unauthorized cloning, as AP reported earlier.
Apnews
ElevenLabs announced upgrades to its agents aimed at faster response times and better “turn-taking”—the timing that prevents conversations from overlapping. The company also plans to ramp up research into emotional conversational models, dubbing, and other audio technologies as it moves closer to an eventual IPO.
